Fieldwork and technical studies completed by company personnel, Energoprojekt Hidroinzenjering Co. (Serbia) and Technum-Tractebel Engineering (Belgium), have recommended a capacity increase from 48MW to 55.2MW, defined sites, provided recommendations for the design of the hydroelectric power plants and preliminary cost estimates for their construction.
The Italian and Serbian governments have signed an agreement whereby Serbia will export green energy into Italy at prices substantially above those of the local market. Reservoir Capital Corp is engaged in discussions with various energy trading groups with the intent of signing an indicative Power Purchasing Agreement for the sale of electricity into the Italian market.
The company expects to be able to complete Pre-Feasibility Studies by April and Feasibility Studies by the end of 2010. The company is working in parallel with the local authorities, towards being issued all the necessary permits for: relocation of parts of the road along the River Lim, acquisition of surface rights affected by the project and construction of the hydroelectric installations.
